Wheat traders decided to take profits on short positions and trim their short exposure to the market this week as storms pounded areas of the Plains. With funds still heavily short the market and more late-season rains in the forecast for the Central and Southern Plains, there's room for more corrective gains in the wheat market in the week ahead. Corn futures were influenced by spillover from wheat, but due to disappointing export sales this week, upside potential for corn was limited. Focus in the soybean market shifted to new-crop fundamentals as USDA's initial 2015-16 carryover peg came in larger than expected. We take a detailed look at how USDA's May Supply & Demand Report will influence price action in the near-term, and much more in this week's Pro Farmer newsletter.
Become a registered user on ProFarmer.com for free to read Pro Farmer Editor Brian Grete's "From the Editor" column.
Pro Farmer Editor Brian Grete highlights this week's newsletter below:
Click here to subscribe to the Pro Farmer newsletter.
Pro Farmer Members have access to the daily news that moves the markets and impacts farm policy at ProFarmer.com.
Click here to request a free trial.